Brief: Inin Signs Term Sheet To Acquire Fibre Optics Contractor

Inin AS

18/04/2023 07:15

April 18 (Reuters) - Inin Group AS  ININ.OL :
    * ININ GROUP AS: SIGNS TERM SHEET TO ACQUIRE SPECIALIST
FIBRE
OPTICS CONTRACTOR
    * ININ GROUP SUBSIDIARY NORDIC INFRASTRUCTURE GROUP HAS
AGREED TO
PRINCIPAL TERMS OF AGREEMENT TO ACQUIRE 100 PERCENT OF SHARES IN
THUVE'N ANLEGG & BANE
    * THUVE'N ANLEGG & BANE AS IS VALUED AT NOK 25 MILLION IN
TRANSACTION, WHICH WILL BE SETTLED BY NOK 20 MILLION IN SHARES
IN NORDIC INFRASTRUCTURE GROUP, WHICH IS VALUED AT NOK 255
MILLION (PRE-MONEY) IN TRANSACTION, AND NOK 5 MILLION IN CASH
    * CASH CONSIDERATION WILL BE SETTLED IN TWO TRANCHES: ONE AT
CLOSING AND SECOND AFTER DELIVERY OF AUDITED ACCOUNTS FOR 2023
    * OWNERS AND KEY PERSONNEL HAVE AGREED TO A THREE-YEAR
LOCK-UP
AGREEMENT AS WELL AS A NON-COMPETE CLAUSE AFTER EXPIRY OF
LOCK-UP AGREEMENT
    * SIGNING OF FINAL SHARE PURCHASE AGREEMENT AND COMPLETION
OF
TRANSACTION IS EXPECTED TO OCCUR DURING Q2 OF 2023

Source text for Eikon:  ID:nObiDCRs9a 
Further company coverage:  ININ.OL 

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